Oxbow Advisors LLC purchased a new stake in Novartis AG (NYSE:NVS – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,547 shares of the company’s stock, valued at approximately $2,720,000.
A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Novartis by 191.1% in the second quarter. Bank of New York Mellon Corp now owns 1,904,664 shares of the company’s stock valued at $202,771,000 after purchasing an additional 1,250,318 shares in the last quarter. Magnetar Financial LLC boosted its holdings in shares of Novartis by 53.7% in the 1st quarter. Magnetar Financial LLC now owns 1,906,046 shares of the company’s stock worth $184,372,000 after purchasing an additional 666,104 shares in the last quarter. Mondrian Investment Partners LTD increased its position in shares of Novartis by 40.1% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,065,739 shares of the company’s stock valued at $199,819,000 after purchasing an additional 590,830 shares during the last quarter. Morningstar Investment Services LLC increased its position in shares of Novartis by 99.0% during the 4th quarter. Morningstar Investment Services LLC now owns 746,836 shares of the company’s stock valued at $74,661,000 after purchasing an additional 371,590 shares during the last quarter. Finally, First Financial Bankshares Inc bought a new stake in Novartis in the 4th quarter worth approximately $32,003,000. Institutional investors own 13.12% of the company’s stock.
Analyst Upgrades and Downgrades
NVS has been the topic of several research reports. Jefferies Financial Group downgraded shares of Novartis from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Novartis in a research note on Friday, July 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $121.00 price objective (up from $119.00) on shares of Novartis in a research note on Thursday. Finally, Barclays raised Novartis to a “strong sell” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.38.
Novartis Trading Up 0.1 %
Shares of NYSE:NVS traded up $0.16 during midday trading on Friday, hitting $116.65. 1,151,373 shares of the stock traded hands, compared to its average volume of 880,725. The company has a quick ratio of 0.72, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $112.66 and its two-hundred day moving average is $104.51. The stock has a market capitalization of $238.43 billion, a PE ratio of 15.74, a P/E/G ratio of 1.74 and a beta of 0.57. Novartis AG has a one year low of $92.19 and a one year high of $120.92.
Novartis (NYSE:NVS – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.10. The business had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.24 billion. Novartis had a return on equity of 34.56% and a net margin of 33.76%. During the same quarter in the prior year, the company posted $1.83 EPS. As a group, research analysts forecast that Novartis AG will post 7.5 earnings per share for the current year.
Novartis Profile
Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.